HD Hyundai Marine Solution shares double in IPO
From CNBC: 2024-05-08 00:17:07
HD Hyundai Marine Solution Co. saw a 45% jump in its South Korea trading debut after a $547 million IPO. Shares surged nearly 50%, reaching 166,100 South Korean won apiece. The IPO totaled 742.26 billion won, making the company worth 3.71 trillion won at the offering price.
Investor interest in HD Hyundai Marine Solution was strong, with both institutional and retail offerings oversubscribed by over 200 times combined. The parent conglomerate, HD Hyundai Group, will remain in control with a 62% stake, while KKR, the second-largest shareholder, plans to gradually reduce its 38% stake.